Cash-Out Refinance Calculator
A cash-out refinance replaces your mortgage with a larger one and pays you the difference. See the most cash your equity can release under common program limits, and how the new payment compares with what you pay today.
Maximum cash available
$348,000
At 80% of a $1,100,000 value, after paying off $520,000 and $12,000 in closing costs.
- Current balance paid off47%
- Closing costs1%
- Cash to you14%
- Equity you keep38%
- Largest new loan
- $880,000
- Cash to you
- $150,000
- New loan amount
- $682,000
- New loan-to-value
- 62.0%
- New principal and interest
- $4,480
- Current principal and interest
- $3,250
- Monthly increase
- $1,230
Taking $150,000 changes your payment by +$1,230 a month, about $82 for every $10,000 of cash.
Estimates for illustration only, not a loan offer or a commitment to lend. Rates, taxes, insurance and program rules vary; our team will confirm exact figures for your situation.
How this calculator works.
The largest new loan is your home value times the program's maximum loan-to-value. Conventional and FHA cash-out loans typically allow up to 80%, VA loans commonly 90% and sometimes higher, and investment property or DSCR cash-out loans often 75%. The limit is editable because programs and credit tiers differ.
Maximum cash is that largest loan, less your current mortgage balance and the closing costs paid from the proceeds. Enter the cash you actually want, and the calculator sizes the new loan to fit, never above the limit.
The new payment is principal and interest on the new loan at the rate and term you enter. Compare it with your current principal and interest payment to see what the cash costs each month.
Maximum cash = home value × max LTV − current balance − closing costs.
Common questions.
Turn the estimateinto real numbers.
Answer a few questions and our team will price your scenario with current rates and the right program.
Prefer to talk? (949) 774-9599